Orla Mining (NYSEAMERICAN:ORLA) Stock Price Down 8.1% – Should You Sell?

Shares of Orla Mining Ltd. (NYSEAMERICAN:ORLA) traded down 8.1% during trading on Monday . The stock traded as low as $12.53 and last traded at $12.3290. 697,631 shares changed hands during trading, a decline of 73% from the average session volume of 2,586,480 shares. The stock had previously closed at $13.41.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Orla Mining in a research report on Wednesday, February 4th. Zacks Research raised shares of Orla Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. TD Cowen raised shares of Orla Mining from a “hold” rating to a “buy” rating in a research report on Wednesday, May 20th. TD Securities upgraded shares of Orla Mining from a “hold” rating to a “buy” rating in a research note on Wednesday, May 20th. Finally, ATB Cormark Capital Markets upgraded shares of Orla Mining from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $27.00.

Orla Mining Trading Down 3.2%

The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 17.54 and a beta of 0.21. The firm’s 50 day moving average is $14.69 and its two-hundred day moving average is $15.16. The company has a quick ratio of 0.88, a current ratio of 1.06 and a debt-to-equity ratio of 0.39.

Orla Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th will be paid a dividend of $0.015 per share. The ex-dividend date is Tuesday, May 26th. This represents a $0.06 annualized dividend and a yield of 0.5%. Orla Mining’s dividend payout ratio is -599.40%.

Institutional Investors Weigh In On Orla Mining

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sprott Inc. increased its stake in shares of Orla Mining by 1.8% in the fourth quarter. Sprott Inc. now owns 45,822 shares of the company’s stock valued at $617,000 after purchasing an additional 799 shares during the period. Parvin Asset Management LLC increased its stake in shares of Orla Mining by 1.2% in the fourth quarter. Parvin Asset Management LLC now owns 70,500 shares of the company’s stock valued at $950,000 after purchasing an additional 825 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Orla Mining by 13.9% in the third quarter. Neuberger Berman Group LLC now owns 13,374 shares of the company’s stock valued at $144,000 after purchasing an additional 1,637 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Orla Mining by 67.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 4,672 shares of the company’s stock valued at $63,000 after purchasing an additional 1,889 shares during the period. Finally, Mariner LLC increased its stake in shares of Orla Mining by 15.3% in the fourth quarter. Mariner LLC now owns 14,929 shares of the company’s stock valued at $201,000 after purchasing an additional 1,976 shares during the period. Institutional investors and hedge funds own 43.04% of the company’s stock.

About Orla Mining

Orla Mining is a Canada-based mineral exploration and development company focused on advancing gold and silver projects in the Americas. Its flagship asset is the Cerro Quema oxide gold-silver project in Panama, where the company holds approximately 13,000 hectares of mineral concessions. Through feasibility studies and pilot plant testing, Orla has demonstrated the potential of heap leach processing at Cerro Quema, positioning the asset for transition into construction and production phases.

In addition to Cerro Quema, Orla Mining expanded its portfolio in early 2023 with the acquisition of the Gold Springs project located along the Utah–Nevada border in the United States.